J.P. Morgan makes $1.1 billion structured trade loan to Air India

Air India once again taps export credit agency financing for its latest $1.1 billion aircraft purchase.

Beleaguered Air India has obtained $1.1 billion of structured trade financing, provided by J.P. Morgan and guaranteed by the Export-Import Bank of the US US Ex-Im.

The export credit agency financing will be used to fund the purchase of 11 Boeing aircraft that the state-owned airline received in 2009 and is supported by the full faith and credit of the Indian government. US Ex-Im initially approved the loans in June 2009 but they were not paid out...